WesBanco, Inc. (NASDAQ:WSBC) Announces $0.38 Quarterly Dividend

WesBanco, Inc. (NASDAQ:WSBC) announced a quarterly dividend on Wednesday, May 20th. Shareholders of record on Friday, June 5th will be paid a dividend of 0.38 per share by the financial services provider on Wednesday, July 1st. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, June 5th.

WesBanco has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. WesBanco has a dividend payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect WesBanco to earn $3.93 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 38.7%.

WesBanco Stock Up 2.2%

Shares of WSBC stock opened at $34.17 on Thursday. WesBanco has a 12 month low of $29.18 and a 12 month high of $38.10. The stock has a market cap of $3.29 billion, a P/E ratio of 11.02 and a beta of 0.69. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $34.29 and a two-hundred day simple moving average of $34.13.

WesBanco (NASDAQ:WSBC) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. WesBanco had a net margin of 21.12% and a return on equity of 9.76%. The business had revenue of $257.23 million during the quarter, compared to analysts’ expectations of $264.52 million. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. On average, research analysts expect that WesBanco will post 3.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $41.00 target price on shares of WesBanco in a report on Thursday, March 12th. Zacks Research cut shares of WesBanco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. DA Davidson reissued a “buy” rating and issued a $41.00 price objective on shares of WesBanco in a research note on Wednesday, April 22nd. Piper Sandler reduced their price objective on shares of WesBanco from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Finally, Weiss Ratings raised shares of WesBanco from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, WesBanco currently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

WesBanco Company Profile

WesBanco, Inc is a bank holding company headquartered in Wheeling, West Virginia, offering a full range of community banking services through its principal subsidiary, WesBanco Bank, Inc The company serves individual consumers, small‐ to mid‐sized businesses, nonprofit organizations and governmental entities with a relationship‐driven approach and an emphasis on local decision‐making. Through its diversified platform, WesBanco provides core banking functions such as deposit accounts, commercial and consumer lending, mortgage banking, treasury management and electronic banking services.

In addition to traditional banking products, WesBanco offers specialized services including trust and wealth management, investment advisory and insurance solutions.